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DECISION No

DECISION No.69-TTg OF JANUARY 31st, 1996 OF THE PRIME MINISTER ON THE ESTABLISHMENT OF THE VIETNAM SHIPBUILDING INDUSTRY CORPORATION

THE PRIME MINISTER

Pursuant to the Law on Organization of the Government of September 30, 1992;

Pursuant to the Law on State Enterprises of April 20, 1995;

At the proposal of the Minister of Communications and Transport,

DECIDES:

Article 1.- To establish the Vietnam Shipbuilding Industry Corporation on the basis of re-structuring the existing ship-building and ship-repairing establishments which are under the management of the Ministry of Communications and Transport and/or other ministries and local administrations.

The Vietnam Shipbuilding Industry Corporation (hereafter referred to as the Corporation) is a State Corporation which conducts business operations, has the legal person status as well as civil rights and obligations as prescribed by law, takes responsibility for all production and business activities conducted within the amount of capital managed by the Corporation; has its seal and centralized funds as provided for by the Government, is allowed to open accounts at domestic and foreign banks in compliance with State regulations; is organized and operates in accordance with the Statute of the Corporation.

The international transaction name of the Vietnam Shipbuilding Industry Corporation is VIETNAM SHIPBUILDING INDUSTRY CORPORATION (VINASHIN)

The head office of the Corporation is located in Hanoi City.

Article 2.- The Corporation has the following main tasks:

1. To conduct business in building new ships or repairing ships and floating equipment and facilities, producing steel structures, oil drilling rigs, including research, survey, design, project elaboration, trial and actual production; to export and import specialized materials and equipment; to enter into cooperation and joint ventures with domestic and foreign economic organizations; to carry out other businesses in accordance with laws and policies of the State.

2. To receive, effectively use, preserve and develop State-allocated capital, including capital invested in other enterprises; receive and use natural resources including land and other resources allocated by the State with a view to discharging its business task and other assigned tasks.

3. To conduct research, application of scientific and technological advances and to train and foster cadres and workers so as to meet development requirements of the shipbuilding industry.

Article 3.-

1. The organizational structure of the Corporation consists of:

- The Managing Board, the Control Commission;

- The General Director and the assisting apparatus;

- The member units of the Corporation.

2. The organization and operation of the Corporation shall be concretely defined in the Statute of the Corporation promulgated by the Government.

Article 4.- The Minister of Communications and Transport, after consulting with the Minister- Chairman of the Government Commission on Organization and Personnel, shall submit to the Prime Minister for decision on the appointment of the Chairman of the Managing Board, the General Director and other members of the Managing Board.

At the proposal of the Managing Board and after consulting with the Minister-Chairman of the Government Commission on Organization and Personnel and with the consent from the Prime Minister, the Minister of Communications and Transport shall appoint the Deputy General Directors and the Chief Accountant of the Corporation.

Article 5.-

1. The Minister of Communications and Transport shall discuss with the concerned Ministers and Presidents of the People's Committees of the provinces and cities directly under the Central Government to re-arrange the ship-building and ship-repairing units under the management of the Ministry of Communications and Transport and other ship-building and ship-repairing units under other Ministries and local People's Committees in order to draw up a list of member units of the Corporation to submit to the Prime Minister for decision.

2. The Managing Board of the Corporation shall have to draft the Statute on the Organization and Operation of the Corporation to submit to the Government for issuance.

3. The Minister of Finance shall preside over and coordinate with the Minister of Communications and Transport and the concerned Ministers and Presidents of the local People's Committees to implement the allocation of capital to the Corporation.

Article 6.- This Decision takes effect from the date of its issuance.

The Minister of Communications and Transport, the Minister-Chairman of the Government Commission on Organization and Personnel, the Minister of Finance, the Ministers, the Heads of the ministerial-level agencies, the Heads of the agencies attached to the Government, the Presidents of the People's Committees of the provinces and cities directly under the Central Government, the Managing Board and the General Director of the Vietnam Shipbuilding Industry Corporation shall have to implement this Decision.

The Prime Minister

VO VAN KIET